FSBO V1 (Canada)

CHAPTER 16

How to Close Effectively

STEP 5: NEGOTIATIONS WITH THE BUYER

At long last, you have received an offer on your home! Congratulations! Now, how do you handle the negotiations? Without a trusted real estate agent to guide you, negotiations can be very frightening, and they should be! But there’s help available. When you begin negotiations, you might get a verbal or written offer, and that’s fine. However, insist that the verbal offer be put into writing immediately, for your own legal protection. Standard real estate purchase agreements are usually available at your local real estate association or the Canadian Bar Association. You might also be able to purchase them in bookstores or office supply shops. Have some on hand as soon as you start showing your home. You don’t have to accept an offer as it comes, although that is an option for you. You can reject it outright, or make a counteroffer. Please refer to the earlier chapters on negotiation basics and skills to help you through this process. Entering into a contract is scary. That’s probably one of the biggest reasons sellers end up hiring a real estate agent. However, if you’re still committed to FSBO, yet feeling uneasy, you can always include a little addendum to your contract that says, “Contingent on the approval of my attorney.”